Stock market update: IT stocks rise up to 2% on weakness in rupee; HCL Tech, Infosys top gainers

NEW DELHI: Most IT stocks were trading with gains in Tuesday's session amid a fresh fall in rupee against the US dollar.

The rupee was trading 16 paise lower at 72.80 around 12:40 pm. The Nifty IT index was 0.75 per cent up at 16,296 around that time.

Shares of HCL Technologies (up 1.95 per cent), Infosys (up 1.86 per cent) and Infibeam Avenues (up 1.68 per cent) were the top gainers in the IT index.

Tech Mahindra (up 1.66 per cent), Mindtree (up 1.03 per cent) and Oracle Financial Services Software (OFSS) (up 0.70 per cent) too were trading with gains.

However, Tata Elxsi (down 1.51 per cent), Tata Consultancy Services (TCS) (down 1.02 per cent), KPIT Technologies (down 0.45 per cent) and Wipro (down 0.18 per cent) were in the negative territory at that time.

Benchmark NSE Nifty50 index was up 38 points at 11,005, while the BSE Sensex was up 162 points at 36,467.

Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red.

Axis Bank, Sun Pharma, YES Bank, IndusInd Bank and Cipla were among the top gainers in the Nifty index.

Indiabulls Housing Finance, GAIL (India), Eicher Motors, HPCL and BPCL were among the top losers in the Nifty pack of stocks.